CIB Compliance Officer at Stanbic IBTC Bank

Stanbic IBTC Bank has a 151 year history in South Africa and started building our Sub-Saharan Africa franchise in the early 1990s. We currently operate in 18 countries on the African continent, including South Africa, as well as in other selected emerging markets. We organize ourselves as three business units but present ourselves as one. The three main pillars of business are Personal & Business Banking, Corporate & Investment Banking, and Liberty.

Effective risk management is fundamental to the business activities of the Standard Bank Group (group). While we remain committed to increasing shareholder value by developing and growing our business within our broad determined risk appetite, we are mindful of achieving this objective in line with the interests of all stakeholders.

 Stanbic IBTC Bank is recruiting to fill the position of:

Job Title: CIB Compliance Officer

Job ID: 12586

Location: Nigeria

Position Description/Job purpose:

• To ensure that all CIB Compliance issues are properly identified, tracked and effectively managed.
• To provide necessary support to the business in respect of compliance issues.
• To maintain and develop a thorough understanding of the relevant rules and regulations applicable to CIB Business units.
• To maintain and develop a thorough understanding of the relevant requirements and policies applicable to the CIB business, thereby facilitating the establishment of a compliance culture.
• To guide members of the CIB business to act with integrity, competence, diligence, respect and in an ethical manner in dealing with all clients.
• To ensure Compliance with relevant Anti-Money Laundering and Combating the Financing of Terrorist (AML/CFT) legislations and related activities.
• To ensure effective monitoring of all regulatory returns across the CIB businesses to ensure that such returns are rendered as and when due.
• Conducting research (international & local) to keep abreast of current compliance and AML/CFT issues.

Key responsibilities

• Develop strong working relationships with the CIB Business units.
• Provide assistance and advice on compliance issues e.g. new business, new products, new regulatory initiatives and AML/CFT.
• Provide guidance on compliance requirements.
• Monitor Personal Account Trading (PAT) within the CIB Business units and investigate potential problem areas/trades.
• Assist the CIB Business units with resolution of compliance audit issues.
• Conduct monitoring exercises in CIB Business units.
• Review and approve requests for employees to gain access to areas behind “Chinese Walls”/ cross “Chinese Walls” for a specific deal
• Assist as and when required, in the development, drafting and updating of procedures/processes/policies and related training programmes/manuals and the delivery of training that is tailored to the CIB Business unit needs.
• Monitor effectively the level of compliance with policies such as Market Abuse Policy, Conflict of Interest Policy, Gift and Entertainment Policy, Outside Business Interest (OBI) Policy, Conflicts of Interest, etc.
• Keep abreast with the Stanbic IBTC/Standard Bank AML operations, standards and controls.
• Assist with the review of developed training material pertaining to AML/ CFT.
• Attend to relevant projects or reviews and give input and perform allocated tasks in terms of all projects concerning Compliance/AML/CFT.
• Assist in providing AML/CFT support to Operational areas to ensure effective implementation of controls and processes.
• Assist in compliance measures and determine appropriate remedial action plans (including, where necessary, time frames and responsibilities).

Key performance measure

• Ensure all new products and businesses are taken through the product approval process (NPC).
• Ensure that all new regulatory and or compliance initiatives are communicated to relevant CIB business units.
• Identify deficiencies in AML/CFT control measures and determine appropriate remedial action plans (time frames and responsibilities) with the management of the affected area.
• Ensure effective and timely “Wall Crossing” of employees within the CIB business.
• Timely review of Compliance policies, standards, manuals, including gap analysis of regulatory requirements.
• Timely roll out of Compliance Risk Management Plans (CRMPs) and effective monitoring of legislations and regulations in line with agreed time lines.
• Ensure proactive engagement and timely review of new product papers.
• Assist the CIB Compliance Manager to prepare training slides and make necessary arrangement to provide excellent training experience.
• Co-ordinate and provide input into all AML/CFT initiatives.
• Contribute to the AML/CFT framework.
• Ensure necessary development and retention of AML/CFT related documentation/procedures/policies/manuals.
• Assist and advice on the process to identify and monitor PEPs and other targeted high-risk persons and entities.
• Actively promote, on an ongoing basis a culture of Compliance within the CIB Business units.
• Required Skills and Qualifications

Minimum qualifications/Experience

• First Degree in relevant filed
• Masters Degree would be an added advantage
• Relevant professional qualifications would be an added advantage
• Minimum of 2 years Compliance experience with at least 3-5 years working experience in an Investment Banking, Corporate Banking, Asset Management, Stock broking or Risk Management environment.
• Thorough working knowledge of the Banking environment, systems and procedures.
• Extensive working knowledge of applicable money laundering and terrorist financing legislations and controls in the Nigerian environment.
• Good understanding of the regulatory requirements in the international environment.

Knowledge

• Sound understanding of the processes and procedures operating in CIB business units.
• Solid understanding of the nature of the business and products in the CIB business environment.
• Ability to take the understanding of business needs and operations and translate it into risk management solutions.
• In depth knowledge and understanding of the legislative and regulatory requirements (current and proposed) relating to Banking as well as internal compliance related policies and procedures.
• Ongoing awareness of other legislation and regulations which relate to the Stanbic IBTC Group’s business, as well as Compliance best practices and trends.
• Keep abreast of international developments and best practice relating to AML/CFT.
• Ongoing awareness of AML/CFT activities and developments.
• Ability to give technically sound advice.

Required Competencies/Technical competencies:

• Thinking, problem solving, innovation
• Analytical skills
• Decision Making
• Generates focused practical solutions
• Demonstrates sound judgement
• Working under pressure and meeting targets
• Technical proficiency
• Microsoft Office

Personal competencies

• Good verbal communication; pays attention to detail, methodical, diplomatic, able to handle pressure/conflict, results-orientated, people management skills, team player, able to retain optimism despite setbacks, self-motivated, consensus builder, result oriented and ability to work with minimal supervision.
• Relationship management, customer service orientated, ability to accept responsibility, demonstrates trustworthiness & integrity, willingness to share knowledge, open to change.
• Ensures consistent, regular contact with clients, communicates confidently with all levels of the business (local and globally), communicates technical/specialist training clearly and in line with business needs, handles difficult situations tactfully and diplomatically.
• We are an equal opportunities employer and are totally opposed to discrimination in any form. It is our policy to provide equal employment opportunities for all employees regardless of race, sex, colour, nationality, national or ethnic origin, sexualorientation, marital / partnership status, religion, age or disability.

Application Closing Date
11th April, 2014

How to Apply
Interested candidates should
Click Here To Apply